Penthouse sells for a cool $5.2m

OPEN VIEW: Inside The Sentinel penthouse that has just
sold for $5.2 million.

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The lights will soon be on again in a penthouse at the top of the North Shore's tallest building when its new owner moves in.

The purchaser, described as a young Asian businessman, bought The Sentinel penthouse in Takapuna for a hefty $5.2 million.

It's likely to be the highest-selling apartment in New Zealand or very close to it, according to the building's vendor and developer Rick Martin of Cornerstone Group.

The 668-square metre apartment situated 30 storeys high was sold by Harcourts Albany's top real estate agent in the northern region Matty Ma.

The luxury apartment has been vacant for three years and only used for hosting film sets like America's Next Top Model.

An overseas buyer was to buy it in 2008 but it fell through and it has been empty since.

The two-level home has hand-woven Indian carpet worth $1000 a square metre, a spa and lap pool on the balcony. Not to mention a movie room with block-out blinds and an automatic projector screen in the ceiling.

It has three bedrooms each with an ensuite and two with a balcony with lifts leading right to the doorstep of the apartment.

As well as four carparks and an on-hand 24-hour concierge.

People can expect to pay about $50,000 worth of body corporate fees each year.

Mr Martin says there are still three apartments that haven't been sold by Cornerstone in The Sentinel, including the two sub-penthouses that take up half a floor each of level 28.

There is also one apartment on level 25 that is about 180 square-metres yet to be sold.

There are 117 apartments in the complex.

Another Takapuna apartment development The Merge is now moving ahead after it was put on hold last year as a result of the credit crisis.

The Merge development is in the resource consent stage with North Shore City Council and a tentative hearing date is planned for this month.

The site of The Merge complex would be at the former gasometer site at the corner of Auburn, Huron and Northcroft streets.

North Shore City Council strategic projects manager Simon Guillemin says the earliest it would go up would be mid-to-late 2012.

The Sentinel Tower next to the planned Merge complex has opposed the project, saying its bulk and immense scale will have a major impact on its residents and surrounding residential buildings.